Binance Labs Empowers Promising Projects, Selecting Top 2% of Applicants. Strategic Investments Reshaping the Future of Web3 Ventures.
Binance Labs Invests in Top Performers of Season 5 Incubation Program, Supporting Promising Projects. Venture Capital Arm of Binance Backs Successful Ventures.
Less than 2% of over 900 project applicants were accepted into Binance Labs’ Incubation Program, providing them with a customized curriculum and access to valuable resources. These selected projects also had the opportunity to participate in insightful fireside chats with industry experts, fostering their growth and development.
Binance’s Chief Business Officer, Yibo Ling, reiterated the organization’s dedication to supporting early-stage projects that drive industry progress. Ling emphasized Binance Labs’ commitment to empowering scalable ventures and expressed anticipation for the positive impact that Season five’s incubated projects will have on the Web3 ecosystem.
With the endorsement of the Binance King, the selected projects have garnered further acclaim and validation.
Continue to invest in the industry. https://t.co/kakFk4XTqm
— CZ š¶ BNB (@cz_binance) June 20, 2023
Projects Funded by Binance Labs:
1. Bracket Labs: Building leveraged structured products on-chain with user-friendly interfaces and innovative pricing mechanisms.
2. DappOS: Creating an operating protocol to enhance the usability of Web3 applications and reduce entry barriers.
3. Kryptoskatt: Simplifying Web3 finance with a comprehensive suite of solutions for accounting, portfolio management, and tax reporting.
4. Mind Network: Constructing a fully-encrypted network using a patented Adaptive Fully Homomorphic Encryption (FHE) framework for enhanced security.
5. zkPass: Offering a privacy-preserving decentralized identity verification solution for Web3 applications, leveraging multi-party computation (MPC) and zero-knowledge proof (ZKP) technologies.
The Build The Block event concluded Season 5, showcasing the cohort’s projects to industry leaders and investors. Recognizing their exceptional potential, Binance Labs committed funding to five projects across DeFi, infrastructure, tooling, and middleware sectors in the Web3 space. This investment aims to fuel their growth and innovation in the industry.
Binance Labs gears up for Season 6 of its Incubation Program after the successful completion of Season 5.
Important:Ā This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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